Sze’s Azentus Fund Down 6.8% In 2011

Jan 10 2012 | 10:04am ET

Former Goldman Sachs trader Morgan Sze’s Azentus fund, launched to great fanfare last April, lost 6.8% in 2011.

Reuters, citing two sources with “direct knowledge of the matter,” says the Hong Kong-based multi-strategy fund was hit by a sharp drop in Chinese shares.

Sze launched the fund with about $1 billion in April 2011, the largest Asia launch of the year. Azentus now manages $1.9 billion.

Reuters’ sources say Sze’s fund did well for the first six months of 2011 before coming to grief in September, mostly due to its Chinese exposure, as Chinese stocks measured by the MSCI China Index shed 20%. Most of its losses came from investments in Chinese stocks listed in the U.S.

The fund was down 1.4% in December and 1.7% a month earlier, says the news agency, and begins 2012 with 120% gross exposure (the sum of its long and short positions).


In Depth

Q&A: Omni Macro Fund Bullish On India, Watching China

Mar 4 2015 | 3:35pm ET

Omni Macro Fund was formed in 2007 by Stephen Rosen, previously a prop trader at...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk Management: The Due Diligence Challenge And Branding Opportunity

Mar 2 2015 | 8:41am ET

The hedge fund firms that make it easier for prospective investors to gain comfort...

 

Editor's Note